CoreLogic Analysis Estimates Total Residential Insured and Uninsured Flood Loss for Hurricane Harvey Between $25 Billion and $37 Billion

—Approximately 70 Percent of Flood Damage is Uninsured—

IRVINE, Calif. — (BUSINESS WIRE) — August 31, 2017 — CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced preliminary residential loss estimates for Hurricane Harvey. According to the data analysis, insured flood loss for homes in the 70-county area in Texas and Louisiana affected by the storm is estimated to be between $6.5 billion and $9.5 billion, which includes inland, flash and storm surge flooding. An additional estimated $1 billion to $2 billion in insured loss is attributed to damage from wind. Residential uninsured flood loss for the same area is estimated to be between $18 billion and $27 billion. As a result, an estimated 70 percent of flood damage from Hurricane Harvey is not covered by any insurance.

Data Highlights:

  • Insured flood loss covered by the National Flood Insurance Program (NFIP) is estimated at $6 billion to $9 billion.
    • This includes inland, flash and storm surge flooding.
    • More than 98 percent of residential flood insurance in the U.S. is provided through the NFIP.
  • Insured flood loss from private insurers is estimated at less than $0.5 billion.
  • Uninsured flood loss, which represents damage from storm surge and inland flooding not covered by any insurance policies, is estimated at $18 billion to $27 billion.
  • Insured loss from wind damage is estimated at $1 billion to $2 billion.
 

Loss Estimates from Hurricane Harvey

         
CoreLogic Analysis   Flood Loss

Total Flood
Loss

  $25-37 B
Insured by NFIP   $6-9 B

Estimated Percent

Uninsured

  70%
Insured by Private Insurers   <$0.5 B  
Uninsured   $18-27 B                
Total Insured Flood Loss   $6.5-9.5 B   Total Uninsured Flood Loss   $18-27 B   Total Insured Loss Including Flood and Wind   $7.5-11.5 B
 

1 | 2  Next Page »
Featured Video
Jobs
Business Technology Analyst for Surface Water Management at Everett, Washington
Business Development Manager for Berntsen International, Inc. at Madison, Wisconsin
GIS Specialist for Washington State Department of Natural Resources at Olympia, Washington
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Mechanical Engineer 3 for Lam Research at Fremont, California
Upcoming Events
Dimensions User Conference 2024 at The Venetian Resort Las Vegas NV - Nov 11 - 13, 2024
URISA GIS Leadership Academy at Embassy Suites Fort Worth Downtown 600 Commerce Street Fort Worth, TX - Nov 18 - 22, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise